Real Estate

November 6, 2017

Real Estate

As the Maine economy continues to rebound, the Real Estate industry offers the possibility of gains and profits made through investment and development in real estate, as well as the potential for additional passive revenue streams. In our local economy, that can include land development and subdivisions, commercial property development, and residential real estate development including single family residences, multi-unit apartment buildings, or residential complexes.

The industry has unique challenges, including:

Entity Selection

Passive Loss Allowance Rules

Real Estate Professional Rules

Partnership Basis Allocations

Special Depreciation Elections & Allowances

Capitalization Policies

Bookkeeping Solutions

The Real Estate Team at BBSC has the experience necessary to assist you in navigating the taxation of real estate development and management in our area. We provide a variety of services tailored to the industry including: bookkeeping, tax planning, and exit planning, if necessary. Using a variety of tools and strategies, we can tailor a custom solution which fits your individual needs and reduces your tax impact. As a member of your financial team, we are always available to assist with your questions and guide you through the complexity of the industry.